Economics
U.S. Manufacturing Gauge Falls While Price Pressures Ease
- ISM factory index dropped to 58.7 in December; est. 60
- Miss reflects easing price pressures, supply constraints
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A measure of U.S. manufacturing fell short of expectations at the end of 2021, reflecting declines in gauges of delivery times and prices that belie an otherwise solid demand picture.
The Institute for Supply Management’s gauge of December factory activity fell to 58.7, the lowest level since January 2021, from 61.1 in the prior month, according to data released Tuesday. Readings above 50 indicate expansion and the median forecast in a Bloomberg survey of economists called for 60.